Finance Ministry dept to meet business correspondents, banks next week | Finance News - Business Standard
 "The Union Ministry of Finance is planning to consolidate the Regional Rural Banks (RRBs) under a policy of “One State, One RRB” to improve their efficiency and avoid undue competition among sponsoring public sector banks.")
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Business correspondents are a key part of proving banking in rural areas. (Representative photo)
Raghu Mohan New Delhi
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The Finance Ministry’s Department of Financial Services has called a meeting of the monitoring committee on the functioning of business correspondents (BC) on January 21.
Sources said the agenda includes payment of fixed commission to BCs in rural centres by banks and waiver of penalties. The setting of an infrastructure and equity fund for corporate BCs is to be explored with the option of tapping the National Bank for Agriculture and Rural Development’s Financial Inclusion Fund, and the Reserve Bank of India’s (RBI) Payments Infrastructure Development Fund for the same.
The meeting is to be attended by representatives of
